Foundation Communities

The Downtown Austin Plan is moving forward. The city’s blueprint that shows the need for more affordable housing and permanent supportive housing is meeting its materialization. The first affordable-housing project in 45 years is currently in the works.

Foundation Communities plans to build a residential project with affordable rentals at 2800 S. Lamar Blvd., a booming area with upscale multifamily projects. The local nonprofit could build the 109-unit apartment project on a site that currently houses a Goodwill retail store.

The number of freelancers, temps, independent contractors and entrepreneurs is on the rise. According to the U.S. Bureau of Labor Statistics, such individuals will constitute 40 percent of the workforce over the next five years, up from 30 percent today.

Appealing workplaces, such as WeWork, are opening in the metro's core submarkets, attracting young professionals to live-work-play environments. Job growth has exceeded the national average and helps maintain a robust demand for apartments.

The population of people over age 65 is expected to nearly double between 2015 and 2055, which is an encouraging factor supporting long-term demand for medical office space, according to a new CBRE Research report.